Antharas, a full-service community property developer in Malaysia, raised the proposed deal size for its upcoming IPO on Friday.
The Kuala Lumpur, Malaysia-based company now plans to raise $15 million by offering 3.3 million shares at a price range of $4 to $5. The company had previously filed to offer 1.3 million shares at the same range. With the revised offering terms, Antharas will qualify for a US IPO under the Nasdaq's new listing requirements, which include a minimum float of $15 million worth of shares.
Antharas is full-service community property developer in Malaysia. The company manages all aspects of real estate development and offers a comprehensive range of services to its clients. Currently its property management portfolio consists of one property, which remains partially sold.
Antharas was founded in 2017 and booked $20 million in revenue for the 12 months ended December 31, 2024. It plans to list on the Nasdaq under the symbol AAS. D. Boral Capital is the sole bookrunner on the deal.
